ATLANTA — One of the nation's largest utilities says energy sales show that economic activity is picking up in the Southeast industrial sector, but it's offset by job losses elsewhere.

Southern Co. President Tom Fanning said Wednesday that electricity sales during the three-month period ending in September were equal to 95 percent of sales during the same quarter in 2007. He said that's a benchmark since it was the last quarter in 2007 before the nation hit a deep recession.

Southern Co. CFO Art Beattie said that gains in the manufacturing sector have been offset by job losses in the public and financial sectors.

The company announced its quarterly earnings were $916 million, or $1.07 per share, for the three-month period ending in September. That's up from $817 million last year.